Rent Payments 😶

The National Multifamily Housing Council’s rent payment tracker found that 92.1 percent of apartment households made a full or partial rent payment by August 27. The survey included 11.4 million units of professionally managed apartments across the country.

This is 210,458 households down from last August and compares to 93.3 percent of households paying last month (July 27, 2020).

When the economy collapsed because of coronavirus shutdowns, the federal government helped with additional unemployment benefits, stimulus checks, and a moratorium on evictions and foreclosures. Those who did not lose their jobs cut back on costs, paid off debts, and made home improvements 🔨🔧(WSJ.com). Those who did lose their jobs made it through the crisis but, according to Ben Eisen’s WSJ article, now are not sure they can pay their next month’s rent (WSJ.com).  

People are uncertain about the economy. Gasparro & Kang report in their WSJ article that one indicator of this anxiety is that spending on groceries 🍗🍺🧀🍦dropped sharply in mid-August particularly in states with high unemployment.  

The federal government’s $600 per week additional unemployment benefits ended July 31. People who got those benefits and the $1200 economic stimulus payment from the federal government spent that money. Another round of stimulus has been discussed in Congress, but no agreement has been reached so far.

Doug Bibby, the President of the National Multifamily Housing Council (NMHC) (nmhc.org), said “Lawmakers in Congress and the Administration need to come back to the table and work together on comprehensive legislation that protects and supports tens of millions of American renters by extending unemployment benefits and providing desperately needed rental assistance.”

Photo by Kelly Lacy on Pexels.com

“The [multifamily housing] industry remains encouraged by the degree residents have prioritized their housing obligations 🔑🏡so far, but each passing day means more distress for individuals and families, and greater risk for the nations housing sector. If policymakers want to prevent a health and economic crisis from quickly evolving into a house crisis, they should act quickly to extend financial assistance to renters.”

REI Capital Resources is a funding source for SFR Fix-n-Flip, Fix-to-Rent, and refinance projects as well as larger commercial projects such as office buildings, 5-40 door multi-family buildings, and many others.  These programs vary wide and far throughout the gamut of lending. Call or e-mail for more information.

Give me a call or send an e-mail.

Patrick StCin, 512-213-2271,

e-mail: patrick@REICapital.cash

References

https://www.nmhc.org/research-insight/nmhc-rent-payment-tracker/

Ben Eisen, “How’s the Coronavirus Economy? Great or Awful, Depending on Whom You Ask.” WSJ.com. September 2, 2020. Available at https://www.wsj.com/articles/hows-the-coronavirus-economy-great-or-awful-depending-on-whom-you-ask-11599039003?mod=hp_lista_pos4

Annie Gasparro and Jaewon Kang, With Second Stimulus Checks on Hold, Americans Spend Less at the Grocery Store.” WSJ.com August 27, 2020. Available online at https://www.wsj.com/articles/with-stimulus-checks-on-hold-americans-are-spending-less-at-the-grocery-store-11598526249

Transform an Office Building into a Home

Many people are transforming rooms in their homes into home offices, but some people are transforming commercial spaces into homes.

Unused and Vacant

Today, CNN reports that outdoor retailer REI is selling their newly finished unused 8-acre corporate campus in Bellevue, WA as they redefine their experience of “headquarters.” Their new model they say will make remote working the “normalized model” for headquarters employees and the future headquarters building will be instead multiple satellite campuses in the Seattle area.

Businesses all over the US are seeing what REI is seeing and adjusting their business models. Office building occupancies are going down in the downtown areas of large cities across the US primarily because of the effect of the coronavirus pandemic and its associated lockdowns. Businesses are either moving, transitioning to remote working, or closing altogether. Landlords of downtown office buildings in big cities are in danger of losing the income from their properties as companies move to small communities or have their staff work from home. If the landlord has a mortgage and cannot keep up with their payments, they could lose the building. These buildings are then left vacant.

According to STR, a global hospitality data and analytics firm, hotels are suffering as well. Their data show that a fifth of hotel properties are still closed and have been since March. Many of these hotels will not survive the pandemic.

This devastating business and economic situation may offer a sliver of optimism if we look at investing in converting office buildings and hotels into much needed housing.  

According to an article in realtor.com (https://www.realtor.com/news/trends/office-hotel-conversions-to-housing/) office buildings and hotels in urban downtowns are attractive for conversions to apartment housing because they have wifi and cable infrastructure in place, parking areas, and common areas. While offices will require more plumbing to provide bathrooms and perhaps kitchens to each apartment, hotels can be converted less expensively because they are already divided into individual spaces with individual bathrooms.

Creating Affordable Housing

One example of a hotel converted to apartments is Plato’s Cave at 3524 Keetor St. in Branson Missouri. Repvblik (pronounced Republic) LLC, a Los Angeles based firm, converted a vacant six-building Days Inn into multi-family or workforce housing. The complex includes studio apartments, renting for $495.00 a month, and one-bedroom apartments, renting for $695.00 a month. According to its website, https://www.platos-cave.com/pictures-of-units, the complex incudes a gym, commercial kitchen, large dining area, an outdoor pool and beach volleyball on the property. There is plenty of parking and it is right on the strip within walking distance to the jobs there. It is affordable housing that is so badly needed.

Living and working in crowded downtowns were very popular until the pandemic hit these communities so hard. It is not clear how many people will be willing to move back to crowded downtowns after the pandemic ends or if it lingers for years. It looks certain that there will be many vacant office buildings and hotels around by the end of 2021 or when long-term leases run out. Landlords will have to keep their prices in line with demand and it is too soon to tell what demand will be.

Too Early to Give Up

Clare Trapasso, the author of the article, “As the Pandemic Empties Office Buildings, Can Those Spaces Help Solve the Housing Crisis” says, “… it may be too early to write the obituary of urban office buildings and hotels, as many did in the wake of 9/11.”

However, development can drive what happens, so you might want to be thinking about a strategy to help cities, people in need of housing, and your own financial security by seriously studying the risks and rewards of converting vacant downtown office space and hotel space into affordable housing in your own city.

If you need funding, apply now. I am working online with the rest of you.

Patrick St. Cin

W – 512-213-2271

M – 505-239-3026

Patrick@REICapital.cash

http://www.reicapital.cash/

References

Trapasso, Clare, Realtor,com, As the Pandemic Empties Office Buildings, Can Those Spaces Help Solve the Housing Crisis, August 12, 2020. com (https://www.realtor.com/news/trends/office-hotel-conversions-to-housing/)

CNN,  Leah Asmelash and Alison Kosik, August 13, 2020. https://www.msn.com/en-us/news/us/outdoor-retailer-rei-to-sell-sprawling-new-and-unused-headquarters-to-shift-to-remote-work/ar-BB17VDuG?ocid=msedgdhp

Platos Cave website: https://www.platos-cave.com/property-tour

Picture of downtown, USEPA Environmental-Protection-Agency / Public domain

Fixing Up Houses for Seniors

The coronavirus pandemic has cast a shadow of mortal danger over senior community-living and assisted-living options, nursing home options, and the option of living fulltime on a cruise ship grazing the buffets and watching people, waves, and whales.  Instead of looking forward to being safe with others our own age, with staff to care for us, and convenient medical care, we find that living in community might expose us to a virus we have no immunity to and a particular susceptibility for.

Even if one eyes being sick alone with anxiety, aging in place, at home has become even more attractive in recent months, and it has also become more possible. Advances in electronic technology have given many seniors more tools to use to assist them in staying at home while they age. Online shopping and delivery of even groceries and the surge in telemedicine are a couple of the technologies that have taken off during the pandemic. According to the Wall Street Journal article by Peter Grant, Senior-Housing Communities Face Higher Vacancy Rates Amid Coronavirus, virtual “doctor visits through American Well, also known as Amwell, increased 1000% during a six-week period (1).”

While senior community investors are taking a beating right now, a fix-n-flip real estate investor might be able to turn a profit on small rundown houses by remodeling them into the perfect haven for a senior citizen who wants to avoid community living. The task will mean focusing on details that seniors would be looking for and then marketing those amenities when you sell the home. I’ve scoured several articles for ideas about what to remodel in a fix-n-flip for seniors.

The first Advice I found was “buy a single-story home.” (3)

ENTRANCE

Make a no-rise entry by adding a ramp instead of steps. (3)

Repair uneven or cracked walkways outside and add nonslip surfaces. (3)

If stairs must stay, add 1 ½-inch diameter rails on both sides. (3)

Add reflective strips to top and bottom of stairs. (3)

Create doorways that are wide enough for a wheelchair.

Add benches and hooks for packages both inside and outside an entrance. (3)

Make a cleanup station or mud room near the door so guests can wash hands, remove shoes, discard coats, and pick up a face mask at the entrance and not expose inhabitant to pathogens.

Put a roof over at least one entryway. (3)

KITCHEN

Install appliances with easy-to-read controls and push buttons. (3)

Install a wall oven. (3)

Make a microwave drawer. (3)

Use lazy Susan’s, rollout drawers, glass doors, and open shelving in cabinets and pantries. (3)

Install a single lever kitchen faucet. (3)(4)

LIVING AREA

Removing small step ups and down between rooms and replacing them with ramps.

Install flooring that is nonslip even when wet in bath and kitchen. (2) (3) (4)

Install outlets where they will be most useful, such as on walls where a flat screen would be used so cords don’t show and a little above desk height on walls and in the corners for charging devices or plugging in computers.

BATHROOMS

Install u-shaped and vertical grab bars in the shower and near the bathtub (2) (3) and add back bracing to the walls in these areas. (3)

A walk-in tub.

Install a curb-less entrance to the shower. (4)

Give shower floors a non-slip coating. (4)

Install shower seating, some are fold down. (2) (3)

Install adjustable handheld shower sprayers. (2) (3) (4)

Add extra lightening to shower area. (3) (4)

Install tall or comfort-height toilets and bars to grip when one is lowering and lifting themselves off the toilet. (4)

Add lever faucets to bathroom sinks. (3) (4)

OUTSIDE

Install new decks with handrails and no splinters.

Add Raised garden beds to the landscaping.

I can have private funding for your project. Let’s get our economy going again.

Fill out the BLN application at   http://reicapital.blnsoftware.com/send me an e-mail or

give me a call.

patrick@reicapital.cash

W – 512-213-2271

M – 505-239-3026

Patrick@REICapital.cash

http://www.REICapital.cash

References:

55+

Renting and “aging in place,” but not alone, is a growing preference for aging baby boomers and seniors and offers a unique opportunity for investors who want to invest in and operate multifamily units.

Baby boomers are defined as those born between 1946 and 1964 while seniors are defined as those born before 1946.

According to research done by ARBOR, an increasing number of senior renters now live with unrelated adults across all multifamily property types. Small apartment buildings (5-49 units) have slightly higher shares of senior renters with roommates compared to large multifamily properties (50+ units). However, the co-living senior renter segment is growing the fastest in large-asset multifamily.

Co-living among seniors is highest in the single-family rental (6.1%), then the duplex/quadruplex (5%), next small-asset multifamily rentals (4.6%), and last, large-asset multifamily rentals (3.2%). To put this in perspective, among Millennial renters, the share of renters living with a roommate in a small-asset multifamily situation is 14.4%.

Sharing is motivated primarily as much by social connection as by income needs. According to Psychology Today, “20% of people over 60 frequently feel intensely lonely.” Loneliness can be a risk for heart disease, Type 2 diabetes, arthritis, and Alzheimer’s disease. Because of health risks associated with loneliness, seniors that share a home are actually dealing with their current and potential future loneliness.

In addition to social connection and apartment affordability, sharing is also motivated by personal security, and sharing of daily chores. The need to “age in place” is driving the increase in co-sharing seniors in the large asset multifamily rental because these buildings tend to be located near urban services and health care centers, have elevators and wheelchair lifts, and have higher levels of amenities.

Amenities Promoted in 55+ Adult Living

When looking over senior housing options available in Houston, I found most of the advertising in the higher end communities mentioned affordability, distinction, style, lifestyle, freedom from chores, and choice. Specific advantages and amenities listed by the higher end properties in the facility advertising included:

  • Independence
  • Affordability
  • Beautifully landscaped grounds
  • Luxurious and spacious interiors
  • Locations close to dining, entertainment, parks
  • Locations close to and medical centers
  • Diverse and colorful neighborhood
  • “Dynamic alternative to the ordinary”
  • “Live your lifestyle with passion”
  • Luxury
  • Style
  • Home
  • Distinctive living experience
  • Restaurant-style dining
  • Resort amenities
  • Complete freedom
  • Infinity pool
  • Court yards
  • Dog park
  • Wine tasting lounge
  • Media room
  • Chef quality demonstration living
  • It’s a lifestyle
  • Boutique, resort style

Amenities Advertised at Less Expensive 55+ Community Options

Retirement and 55+ community combinations in a lower price category advertised:

  • Activities and programs
  • Privacy
  • Aging in place
  • Gym
  • Garage
  • Outdoor grills
  • Designer living
  • “Trade your to do list for a bucket list”
  • Pet-friendliness
  • Outdoor pool
  • Yoga and art classes
  • Access to meals
  • Choices
  • Community
  • People of similar life stages
  • Leave home maintenance and yard work behind
  • Water gardens
  • Swimming pool
  • Computer room

The youngest of the baby boomers are approaching 55, and the huge number of 55+ adults who are still active but looking for reduced housing maintenance responsibilities and costs as they age and live within a fixed income makes this group a dynamic market for senior living situations. Not all are turning to apartment renting, but this tend is worth watching.

Competition for good rental properties is stiff, and in order to buy a property in a climate of competition you may need funds fast. As a broker and a direct lender, it is my job to help you get a hard money loan easily and quickly. Private Lenders, not banks, are willing to help you fund your project based on the value of the property and its after renovation value. We have money to lend. A perfect fit is out there.

Give me a call or send an e-mail. I am focused on funding your success.

Patrick StCin, 512-213-2271,

e-mail: patrick@REICapital.cash

Tech Considerations for Multifamily Housing

Just this week, I said that one of the mistakes a real estate investor can make is not seeing the property in person before buying it. I said that so I could eat my words today, at least with regard to buyers of finished properties. I still think it is unwise for an investor to buy a property to fix, flip, develop, or fund without inspecting it in person. However, Multifamily PRO is reporting that augmented and virtual reality technology is expected to increase the number of residents willing to sign leases without visiting the property in person because they will be satisfied with viewing the property using virtual self-guided tours.

New technologies are and will be changing the apartment-buying, apartment-selling, apartment-living and apartment-operating experience. Considering this, investors, builders, and remodelers need to focus on communications and electronic infrastructure to support these new technologies when planning, budgeting for, building, and marketing multifamily housing. A few areas to focus on include:

Excellent Internet Connections

The first things to think about are internet connections, their quality, number, location, and security. Smart-home technologies like smart locks, lights, thermostats, as well as visual monitors for pets, children, and deliveries will be expected in the new high-tech apartment unit. These will impact the way the resident interacts with facility operators. For the resident, chat bots may make routine maintenance requests on behalf of the resident, reserve facilities, and schedule hair and dining appointments.  For the facility operator, chat bots may provide routine information to residents and collect repair orders and  rent payments. All these electronic interfaces will require excellent internet infrastructure in the multifamily complex.

Numerous Charging Stations and Outlets

The demand for electric cars, electric scooters, and electric-motor-assisted bicycles will drive the demand for charging stations and charging outlets at multifamily properties. Planning, budgeting, and locating these facilities for convenient access, exit, and safety will be important.

Locating Autonomous Vehicle Dropoff Points and Parking

Autonomous vehicles, both driven and flown, will need places to park and drop off clients, meals, and other products. This will affect the size of the parking area you will need and the layout of delivery sites around the building. Robots and drones may deliver and pickup within the apartment.  A drone may deliver to a dropoff point with directions for a robot that will complete the delivery inside the apartment community.  Conventional vehicles will also be expected to make deliveries and pickups and need space to maneuver.

Photo by JESHOOTS.com on Pexels.com

Facial Recognition

Artificial intelligence technologies will enable facial recognition for customer identification and for criminal background checks, and these facial recognition systems can track a person as they move around a property. This will improve security but raise privacy concerns.

Planned Office Space in Apartment

People working from home will need an excellent internet connection and may want an office available as part of their apartment.

An electronic interface between operator and potential buyer may be a way to design flexible space for the customer with the hope that they will stay longer in a space that fits them well.

These ideas, with some speculations added, came from the NAA Apartmentalize conference in Denver through reporter Andrew Stephens on Multihousing PRO.

REI Capital Resources built its reputation on finding private funding for investors for quick turn purchases and difficult situations. 

Give me a call or send an e-mail and share with me your plans and needs, and I’ll see what lending solution I can generate for you.

Patrick St.Cin

W – 512-213-2271
Patrick@REICapital.cash
Info@REICapital.cash fffff

Single-Family Rentals: Build to Rent

The single-family rental is the fastest growing segment of the housing market according to research done by the Urban Institute. This is a very interesting area of opportunity for private lenders and it pays to keep up-to-date on the market so that no opportunity is missed.

Single-family rentals have outpaced single-family ownership and multi-family housing in recent years. This is partly due to millennials that are forming households and entering the single-family housing market, moving up from multi-family living to single-family rentals to gain additional space for a growing family. Renting still works for them because they need the ability to be transient and move if their jobs require them to, and many cannot afford single-family ownership because they are carrying massive student loan debt, have not been able to save for a down payment, and are faced with stricter lending terms. Downsizing baby boomers are also attracted to single-family rentals for some of the same reasons, including no down payment, maintenance services, and the ability to move if they choose.

Photo by Thgusstavo Santana on Pexels.com

Wholesale Sales

According to an article on Builderonline.com by Lauren Shanesy, the demand for single-family rentals has allowed builders to increase sales by selling to rental operators on a wholesale basis and has prompted a number of developers to tap into the market with a new product, the cohesive single-family rental community filled by niche renters with lifestyle needs that are unlike those of apartment renters.

Planned Rental Home Communities

AHV Communities is one community builder that is building in Texas, offering resort-style amenities, energy efficient homes, maintenance-free living, and professional management with the freedom and flexibility of a lease. One of these communities is Pradera, luxury rental homes in San Antonio. Another is Creekside Ranch in New Braunfels. Both offer club house, pool, green space, maintenance services, and sophisticated floor plans.

Management Efficiencies and Flexibility

Shanesy continues, “Many individual investors who bought distressed or foreclosed single-family rental homes have been priced out of the market by competition from institutional investors in recent years.”  However, these individual rental homes are spread out and not located in communities, so the institutional lenders have a more difficult time managing them efficiently. Some investment companies have begun looking to builders to purchase whole communities of new homes that they can manage. They sell some of the homes and rent others, allowing the investors the flexibility to sell if homeownership goes up or rent if homeownership goes down.  

A Mature Market

Samantha Goldberg, in the article “Top Trends to Watch in the Single-Family Market,” at Arbor.com/blog/ reports that panelists at the State of the SFR Industry panel at the IMN’s 7th Annual Single-Family Rental Investment Forum, held in Hollywood FL say that incoming capital, new private lenders and institutional lenders, and technological innovations helpful for management are the top trends to watch in the single-family rental market over the next few years.

According to the same article, the single-family rental market sector achieved 3% year-over-year rent growth in 2018 and 2% year-over-year rent growth so far in 2019. The West Coast and the South East had the biggest rent gains in the last year.

There is still a shortage of housing for the U.S. workforce and this means that the nonluxury single-family rental market has room to grow, providing opportunities for private lenders, developers, and investors to add inventory in the workforce living space.

REI Capital Resources Long-Term Rental Funding Program

REI Capital Resources is a funding source for SFR Fix-n-Flip, Fix-to-Rent, build-to-rent, and Refinance projects as well as larger commercial projects such as office buildings, 5-40 door multi-family buildings, and many others.  These programs vary wide and far throughout the gamut of lending. Call or e-mail for more information. I’d like your business.

We offer asset-based and experienced-based long-term rental program loans on the following terms: at a min FICO of 650, a BPO is required, up to 85% of purchase price, Max of 80% ARV, Interest rates starting at 6.5%, and points as low as 2.25%.

REI Capital Resources Residential Construction Loan Program

We offer asset-based and experience based loans for residential construction on the following terms: Min FOCI 650, appraisal required, up to 90% of cost of lot + build, Up to 100% of construction costs if lot is free and clear, Max of 70% ARV, interest rates starting at 8.25%,and points as low as 3.5%.

Give me a call or send me an e-mail.

Patrick St.Cin

W – 512-213-2271
Patrick@REICapital.cash

References

Lauren Shanesy on Builderonline.com, “The Rise of the Single-Family Rental.”

Samantha Goldberg, “Top Trends to Watch in the Single-Family Market,” Arbor.com/blog/

http://www.urban.org/research

Home Affordability Update

According to Realtor.com’s May 2019 monthly housing trend report, the national median listing price for a home sets a new record at $315,000.  Despite the continued rise in home prices, rising wages, more inventory, and declining mortgage rates, have made 74 of 100 metro areas more affordable to buyers in their market.

“…the boost in affordability has yet to translate into more home sales perhaps because. while the shift in trend is welcome, the current monthly savings are small and some buyers are waiting for markets to tip further in their favor.”

Danielle Hale, chief economist at realtor.com

The top ten cities showing the biggest improvements in availability of affordable homes also added decreasing listing price. The ten include:

Charlotte, North Carolina, median home price $329,450

Dallas-Fort Worth, Texas, median home price $350,000

Austin, Texas, median home price $369,995

Cape Coral-Fort Meyers, Florida, median home price $299,900

Portland, Oregon, median home price $474,975

Atlanta, Georgia, median home price $335,00

Lakeland-Winter Haven, Florida, median home price $231,500

San Francisco-Oakland, California, median home price $954,500

Des Moines, California, median home price $288,000

San Jose-Sunnyvale, California, median home price $1,167,444 000.

This data is not telling us that that there are more homes in the lower prices for first-time home buyers. According to the realtor.com report, the number of houses below $200,000 decreased 8% year-over-year, and the number of houses priced above $750,000 increased 11%.

The data is telling us that the price of homes in a specific metro area market, when compared to the price in the same market, became more affordable over the past year to the residents in that market. The market itself may still be a very pricey market, but the buyers in the market with increased income and lower interest rates are more able to afford the median home.

San Antonio-New Braunfels, Texas was also one of the 74 metro areas that became more affordable over the last year with a median home price of $295,000. Houston-The Woodlands et al, Texas metro area registered no change year-over-year with a median home price of $324,945.

So affordable homes in the lower prices are still needed to round out the market and where there is a demand, investment will follow.

REI Capital Resources is a direct lender as well as a broker of funding solutions. We offer short and long-term financing options and are eager to support your project with funding.

Please give me a call when you find that perfect real estate investment and know how much money you need. We are “focused on funding your success.”

Patrick St.Cin
512-213-2271
Patrick@REICapital.cash  ffff

Pay Forward and Give Back

Have you ever been helped by someone for no reason except they were themselves helped by someone along the way? Well that is the concept behind “pay-it-forward” and “give back.” I’ve been the beneficiary of business mentoring myself, so I understand the concept. At no cost to me, I have received coaching from people who have made it themselves, they but feel the need to give back to others and share what they have learned. That is where I learned to “talk to two people every week about what I do and who my ideal clients are.”

Philanthropy

In the US market today, where there are plenty of jobs and plenty of homes for sale, employers and real estate investors need to compete. They need to find that distinguishing virtue that sets them apart in the mind of employees, buyers, or sellers. In real estate, it makes sense to take up the philanthropic challenge with the virtue closest to our heart—Shelter the homeless.

Philanthropic work turns out to be is a two-way street that in one direction provides meaningful work, good morale, and purpose to people in business; and in the other direction, provides necessities, like housing to people in need. Profit is good. Awards are pleasant. Followers are GREAT!. ‘Likes” can’t be beat. But, building a home for people who really need one with a portion of the profits earned from selling a home completes the circle of justice, offers purpose to workers and investors alike, and brings joy to communities.

I was pleased to find that the following three charitable home-building models for giving back are active in our Texas communities. Sometimes it is hard to know where to start, so perhaps one of these examples may spark ideas that you would like to pursue.

GiveBack Homes

One company that gives back according to the one-for-one business model (sell one, give one away) is GiveBack Homes. According to their website, Giveback homes is a community of real estate professionals who are committed to creating social change by helping build homes for deserving families around the globe.

At their website, https://givebackhomes.com/, you can join the team or contribute to a project. Blake Andrews learned the one-for-one building model by working for TOMS. TOMS gives away a pair of shoes to a needy person for each one they sell. When Blake went on a giving trip to Nicaragua for the shoe company, he fell in love with the people and decided to dedicate his life and talents to giving back internally and domestically. He founded Giveback Homes in 2013. Scanning their website you can see that they are currently working on clean water projects and building homes in Nicaragua, Mexico, Atlanta, Austin, Chicago, Dallas, Denver, Houston, Las Vegas, Los Angeles, Oakland, Orange County, Phoenix, Sacramento, Salt Lake City, San Diego, San Francisco, and Sarsota.

New Story Charity Homes

New Story Charity homes is pioneering solutions to end global homelessness. On their website, https://newstorycharity.org/, they point out that “an estimated 3 million people will be living without access to adequate shelter by 2050, a 200% increase over three decades.” They research breakthroughs in homebuilding and prove them then share the information learned with other builders so home building can become affordable and efficient. Since 2015 they funded 2, 200 homes in 4 countries and 15 communities. The partner with home builders.

New Story partnered with ICON a construction technology firm to develop the first 3D printer designed to print homes. The first version of the printer was Vulcan 1, unveiled in Austin Texas in March of 2018. In 2019, Vulcan 2 will print the world’s first 3D printed community.

First, they ask before they build, asking families for their input before they build to increase the likelihood the communities will thrive. 100 % of donations go to home building. And, they work with local organizations who are experts in the location they are building in. So far, they have worked in Haiti, Mexico, El Salvador, and Bolivia.

Operation Unified Response

100316-N-5961C-020 PORT-AU-PRINCE, Haiti (March 16, 2010) An aerial view of Port-au-Prince, Haiti shows the proximity of homes, many damaged in a major earthquake and subsequent aftershocks.

Concierge Auctions

Concierge Auctions was founded by Laura Brady in Manhattan and is a luxury real estate company that moved to Austin, TX in 2014. According to an article in Barrons magazine by Alanna Schuback, Concierge Auctions partners with GiveBack Homes and funds the construction of a home for people in need for each luxury property it sells and offers its employees opportunities to visit and take part in the construction projects in Nicaragua and El Salvador. I couldn’t find any information about this program on their website, but it is a beautiful website at https://www.conciergeauctions.com/, so they don’t advertise their charitable work much. However, their founder Laura Brady is a member of GiveBack Homes so that is the connection. You can visit her profile at https://givebackhomes.com/laurabrady

According to the Committee Encouraging Corporate Philanthropy, “companies that donate a portion of their revenue to charities do better financially than those who don’t. (Barrons, December 8, 2018). And, some employees actively choose companies to work at because of their charitable activities.

Home sellers and buyers are passionate about more than money too. Like workers, they too are interested in meaningful work, good morale, giving back, and creating good.

Let me know if you have found any deals this month that you know you can turn around and resell with enthusiasm. I hope that I can be of help to you this month.
I can be reached at
Patrick@REICapital.cash
512-213-2271
Austin, Texas

References
Photo: U.S. Navy photo by Senior Chief Mass Communication Specialist Spike Call [Public domain] Haiti
https://www.conciergeauctions.com/
https://newstorycharity.org/
https://givebackhomes.com/
Real Estate Brokerages Are Building for Good, Alanna Schuback, Barrons, Penta, December 8, 2019